The latest investment intends to develop Fourier Protocol on Cardano, an interoperable, Ethereum Virtual Machine compatible solution that would accelerate the migration of EVM-based projects to the Cardano ecosystem.
Cardano also plans to employ Fourier Labs' interoperability solutions to strengthen its dApp and user adoption by lowering transaction fees, increasing scalability and security., DeFi adoption is on the upswing, with approximately $200 billion in TVL across all of the main DeFi protocols. In just two years, this represents an almost 240% gain. The main user onramp for DeFi is decentralized exchanges , although many of them now demand higher transaction fees.
Reduced transaction fees as a built-in feature of Fourier Labs' interoperability solutions might allow Plutus-based smart contracts and EVM Solidity-based smart contracts to be fully deployed on Cardano, increasing adoption.Cardano recently took the lead in adjusted transaction volumes, as reported byMilkomeda, a Layer 2 Protocol that delivers EVM functionality to non-EVM blockchains, has announced the creation of a Cardano-Ethereum bridge testnet in partnership with the Nomad protocol.
Cardano remains at the foothills of the Basho Stage, hence, scaling remains another focus for the blockchain. To achieve scaling in 2022, the path Cardano intends to take includes block size increase, pipelining, input endorsers, improvements in memory/CPU parameters for Plutus, and others.
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